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ARMENIAN CENTRAL BANK LOWERS INTEREST RATE TO 8%
RTT News
Nov 13 2013
11/13/2013 2:13 AM ET
Armenia's central bank on Tuesday decided to reduce its key interest
rate as economic growth weakened.
The Central Bank of the Republic of Armenia lowered its main
refinancing rate by 50 basis points to 8 percent in the latest
rate-setting session. The bank had kept the rate unchanged at the
September meeting.
A report from the central bank said that Armenia's consumer price
inflation eased to 7.1 in October from 8.2 percent in September. The
slowdown resulted mainly from the recent monetary tightening measures
adopted by the bank.
Consumer prices moved up 0.3 percent month-on-month in October,
after falling 0.2 percent a month earlier.
However, inflation continued to stay above the central bank's target
range of 2.5-5.5 percent. The bank said it expects inflation to ease
further in the coming months.
The central bank noted that Armenia' economic growth weakened
during the first nine months of the year, owing mainly to a slump in
construction activity and high energy prices.
by RTT Staff Writer
RTT News
Nov 13 2013
11/13/2013 2:13 AM ET
Armenia's central bank on Tuesday decided to reduce its key interest
rate as economic growth weakened.
The Central Bank of the Republic of Armenia lowered its main
refinancing rate by 50 basis points to 8 percent in the latest
rate-setting session. The bank had kept the rate unchanged at the
September meeting.
A report from the central bank said that Armenia's consumer price
inflation eased to 7.1 in October from 8.2 percent in September. The
slowdown resulted mainly from the recent monetary tightening measures
adopted by the bank.
Consumer prices moved up 0.3 percent month-on-month in October,
after falling 0.2 percent a month earlier.
However, inflation continued to stay above the central bank's target
range of 2.5-5.5 percent. The bank said it expects inflation to ease
further in the coming months.
The central bank noted that Armenia' economic growth weakened
during the first nine months of the year, owing mainly to a slump in
construction activity and high energy prices.
by RTT Staff Writer